Selling Your Bonita Springs Home w/ Price Reductions
Here’s a can of Campbell’s Chicken and Stars soup. I walked to the grocery store eleven miles away to purchase this can of soup. There were only two other cans of the soup on the shelf so clearly my can of soup is a commodity. I only paid $1.35 for the can of soup but I’m quite sure that I can sell my soup for at least $2.10.
Real estate is not much different than a can of soup when it comes to paying a price for the product. Whether it is new construction or a resale home a buyer is only going to pay what it is worth. When a home is listed for sale and it does not sell it has nothing to do with how many ads have been run for the home or how many open houses did or did not happen.
Trust and believe that if your Bonita Springs home or condo is in great condition, priced appropriately and access is provided to it, someone will find it and buy it. How do I know? I know because even home sellers not using a listing agent who advertise their property themselves have their home found by buyers. Buyers who I work with find homes in the paper, by seeing yard signs or even on Zillow and ask me to get them appointments to see it.
Though no home seller likes to hear it, price reductions cure every home that is not selling. If you can’t change the location/view and you can’t further improve the interior/décor, the only other moveable component is the price for which the home is listed for sale. (You might want to learn a little bit about absorption rates here, too.)
Example: I’m watching a home that I’ve shown a half dozen times. It’s located in a bundled golf community. It’s a cute pool home in great neighborhood with a golf course view. It’s been listed for forever and a day. It was priced appropriately for the neighborhood but not for the external obsolescence. It’s got a pretty view, the home is decorated nicely but on the one side of it there is a four lane boulevard. That can never be changed; road noise whether real or imagined. The only cure to sell the home is a price reduction. There is no ad in any magazine or paper that will sell this home if it is not priced for the road that runs along the side of the property boundary.
There is no way to sell a home that is not priced for not having a great room floor plan. Homes built in the 80’s and 90’s had small bathrooms, low vanities and both a formal living room and a family room. The culture of housing has changed. If you haven’t “blown out that wall” the next buyer is calculating how much it will cost to do it. Your home needs to be priced accordingly to sell.
It’s very hard from home sellers to trust their listing agent when they are told this information but backed up with facts and figures it is the only way to sell a home that is stagnating on the real estate market.